Discounted Cash Flow (DCF) Analysis Unlevered
Hindustan Oil Exploration Company L... (HINDOILEXP.NS)
130.1 ₹
-0.80 (-0.61%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 487.13 | 2,651.41 | 2,020.55 | 1,138.65 | 1,557.25 | 3,167.53 | 6,442.92 | 13,105.22 | 26,656.69 | 54,221.07 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
EBITDA | 470.12 | 2,023.47 | 1,720.47 | 809.83 | 521.05 | 2,296.81 | 4,671.84 | 9,502.76 | 19,329.10 | 39,316.37 |
EBITDA (%) | ||||||||||
EBIT | 385.43 | 1,585.39 | 1,426.61 | 576.17 | 258.91 | 1,753.23 | 3,566.17 | 7,253.76 | 14,754.52 | 30,011.46 |
EBIT (%) | ||||||||||
Depreciation | 84.69 | 438.08 | 293.86 | 233.65 | 262.15 | 543.58 | 1,105.67 | 2,249 | 4,574.57 | 9,304.91 |
Depreciation (%) |
Balance Sheet Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Total Cash | 1,349.55 | 1,473.88 | 1,710.80 | 922.67 | 1,052.72 | 3,585.23 | 7,292.55 | 14,833.41 | 30,171.92 | 61,371.23 |
---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||
Account Receivables | - | - | - | - | - | - | - | - | - | - |
Account Receivables (%) | ||||||||||
Inventories | 282.75 | 278.29 | 265.87 | 360.96 | 309.84 | 844.44 | 1,717.63 | 3,493.74 | 7,106.45 | 14,454.89 |
Inventories (%) | ||||||||||
Accounts Payable | 180.69 | 162.76 | 658.86 | 362.39 | 379.20 | 836.33 | 1,701.13 | 3,460.19 | 7,038.21 | 14,316.08 |
Accounts Payable (%) | ||||||||||
Capital Expenditure | -567.30 | -1,183.19 | -3,029.56 | -2,066.15 | -2,659.96 | -4,201.98 | -8,547.05 | -17,385.13 | -35,362.24 | -71,928.60 |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 130.1 |
---|---|
Beta | 1.057 |
Diluted Shares Outstanding | 132.41 |
Cost of Debt | |
Tax Rate | -1.57 |
After-tax Cost of Debt | 1.74% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.504 |
Total Debt | 3,573.43 |
Total Equity | 17,226.36 |
Total Capital | 20,799.79 |
Debt Weighting | 17.18 |
Equity Weighting | 82.82 |
Wacc |
Build Up Free Cash
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 487.13 | 2,651.41 | 2,020.55 | 1,138.65 | 1,557.25 | 3,167.53 | 6,442.92 | 13,105.22 | 26,656.69 | 54,221.07 |
---|---|---|---|---|---|---|---|---|---|---|
EBITDA | 470.12 | 2,023.47 | 1,720.47 | 809.83 | 521.05 | 2,296.81 | 4,671.84 | 9,502.76 | 19,329.10 | 39,316.37 |
EBIT | 385.43 | 1,585.39 | 1,426.61 | 576.17 | 258.91 | 1,753.23 | 3,566.17 | 7,253.76 | 14,754.52 | 30,011.46 |
Tax Rate | 0.00% | 0.08% | -0.19% | -3.08% | -1.57% | -0.95% | -0.95% | -0.95% | -0.95% | -0.95% |
EBIAT | 385.43 | 1,584.12 | 1,429.28 | 593.90 | 262.97 | 1,769.90 | 3,600.07 | 7,322.73 | 14,894.81 | 30,296.81 |
Depreciation | 84.69 | 438.08 | 293.86 | 233.65 | 262.15 | 543.58 | 1,105.67 | 2,249 | 4,574.57 | 9,304.91 |
Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
Inventories | - | 4.46 | 12.41 | -95.08 | 51.11 | -534.59 | -873.19 | -1,776.12 | -3,612.71 | -7,348.44 |
Accounts Payable | - | -17.92 | 496.09 | -296.47 | 16.82 | 457.13 | 864.81 | 1,759.06 | 3,578.02 | 7,277.87 |
Capital Expenditure | -567.30 | -1,183.19 | -3,029.56 | -2,066.15 | -2,659.96 | -4,201.98 | -8,547.05 | -17,385.13 | -35,362.24 | -71,928.60 |
UFCF | -97.18 | 825.55 | -797.91 | -1,630.15 | -2,066.92 | -1,965.96 | -3,849.68 | -7,830.46 | -15,927.55 | -32,397.44 |
WACC | ||||||||||
PV UFCF | -1,831.53 | -3,341.20 | -6,331.44 | -11,997.82 | -22,735.41 | |||||
SUM PV UFCF | -46,237.39 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.34 |
Free cash flow (t + 1) | -33,045.39 |
Terminal Value | -618,827.50 |
Present Value of Terminal Value | -434,271.82 |
Intrinsic Value
Enterprise Value | -480,509.21 |
---|---|
Net Debt | 3,282.21 |
Equity Value | -483,791.43 |
Shares Outstanding | 132.41 |
Equity Value Per Share | -3,653.78 |